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deal with the debt ceiling? >> the fiscal cliff did not fix the debt. is this tax policy or fixing in debt and deficit? and but i was a big supporter to say we got it deal with debt and deficit. >> you voted against the fiscal cliff? >> we have three saying scram together by the senate and the presidency. the debt ceiling, and the sequestration also a continuing resolution. of three moments are a good moment to do with spending but they are very different. sequestration is we will cut spending $100 billion. >> what i asked is can we trust congress to do the right thing when it comes to the debt ceiling? seventy-seven% of the people say washington d.c. is hurting the nation. folks are on to the game how likely is you can solve the debt ceiling issue and also save money? >> that will complete the depend on everybody coming to the table. we have the senate that things one thing in the house that thinks something different to. and tell there on the same page it is tough. the senate has not passed a budget in four years? it makes it difficult to do a budget
deal with the debt ceiling? >> the fiscal cliff did not fix the debt. is this tax policy or fixing in debt and deficit? and but i was a big supporter to say we got it deal with debt and deficit. >> you voted against the fiscal cliff? >> we have three saying scram together by the senate and the presidency. the debt ceiling, and the sequestration also a continuing resolution. of three moments are a good moment to do with spending but they are very different. sequestration is we...
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we have government shut downs and debt ceilings. vice president sebiden is meeti with the nra and senator feinstein wants to ban handguns the kudlow report begins right now. >> cnbc contributor jared bernstein. i can't think of a single reason why they have to put in such an unstring wi undistinguished person in such an important spot. >> i take issue with that. you have to take into consideration issues, but i will say when it comes to one of the most important jobs of the treasury secretary, which is managing the budget, you can't have a better guy than jack lu. you can talk a lot about it. >> that is where i disagree. this is not, hang on a second. i'm going to give jimmy a whack at this. this is not the director of the office of managing the budget. that is where i used to work. this is about financial matters. this is about guys who know what goes on at the world's financial capitol. this is about guys who used to look after the currency and about guys who are going to have to deal with republicans over the debt ceiling and acc
we have government shut downs and debt ceilings. vice president sebiden is meeti with the nra and senator feinstein wants to ban handguns the kudlow report begins right now. >> cnbc contributor jared bernstein. i can't think of a single reason why they have to put in such an unstring wi undistinguished person in such an important spot. >> i take issue with that. you have to take into consideration issues, but i will say when it comes to one of the most important jobs of the treasury...
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i've got a problem with the debt ceiling. let me pick a guy who almost all sides agree is one of the foremost experts when it comes to the budget. >> rick, what do you think? jump in here. >> well, you know, carlton college, harvard, '73 and a to tip o'neill, a former lifer bureaucrat here. instead of someone like a jamie dimon, and i think steve is absolutely right. i don't think there's a human being on the planet who knows the current budget and its issues better than jack lew which is exactly the reason i would say he's absolutely not my first choice for the job or the fifth guy in line to be president should anything happen to the other four because i think he's going to have a parental relationship, so to speak, with the budget and its process in trying to change it, and i think that that paternal instinct is going to be defending it versus, you know, actually trying to make a difference. looking at the budget even though we technically haven't had one. we've had continuing resolutions. i think we need someone that will
i've got a problem with the debt ceiling. let me pick a guy who almost all sides agree is one of the foremost experts when it comes to the budget. >> rick, what do you think? jump in here. >> well, you know, carlton college, harvard, '73 and a to tip o'neill, a former lifer bureaucrat here. instead of someone like a jamie dimon, and i think steve is absolutely right. i don't think there's a human being on the planet who knows the current budget and its issues better than jack lew...
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they have to make it up in the fiscal debt ceiling increase. they have to insist on spending cuts. what it means is having lost once on december 31st, they are tougher to negotiate the next time around. >> they always said it would come to a political game with the chicken or the debt ceiling. >> correct. >> see you soon. >> got breaking news right now. stunning news coming into the cnbc newsroom. what is it? >> for the third time since 1965, baseball writers of america did not elect a single person into the baseball hall of fame. this a big deal because a lot of players associated with the steroid jer gentleman were up. i want to give people percentages here. barry bonds received 36.2% to get in. roger clemens, mark mcguire 16 ppt 9 and sammy sosa 12.5%. shock numbers there. the closest to get in is craig bijo. 68% plus. in terms of the order. so none of those players talking clemens, and barry bonds and sammy sosa even in the top six. back to you. >> tainted era. >> yes it is. >> thank you very much. before we go to break, check out thing that makes you go hhmmmm. a new survey sh
they have to make it up in the fiscal debt ceiling increase. they have to insist on spending cuts. what it means is having lost once on december 31st, they are tougher to negotiate the next time around. >> they always said it would come to a political game with the chicken or the debt ceiling. >> correct. >> see you soon. >> got breaking news right now. stunning news coming into the cnbc newsroom. what is it? >> for the third time since 1965, baseball writers of...
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lew would take over on the eve of another debt ceiling battle. in round one during the summer of 2011, boehner's top staffer called lew's debt ceiling negotiations disrespectful and dismissive. according to david plouffe, that is because jack knows the numbers and republicans couldn't pull a fast one. two names are being floated to replace lew, dennis mcdonagh, currently his deputy national security adviser and ron klain. but the latest cabinet nomination is, surprise, creating consternation among who else, congressional republicans. after calling chuck hagen an in-your-face nomination outside of the mainstream, the pugnacious gop has already made known its displeasure with jack lew, calling his nomination controversial, a mistake, and worst of all, irritating. according to senator mike johanns of nebraska, i just think there are economic policies in this administration that haven't been well received and jack lew is in the middle of that. you heard that correctly, america, president obama intends to name a treasury secretary who agrees with his
lew would take over on the eve of another debt ceiling battle. in round one during the summer of 2011, boehner's top staffer called lew's debt ceiling negotiations disrespectful and dismissive. according to david plouffe, that is because jack knows the numbers and republicans couldn't pull a fast one. two names are being floated to replace lew, dennis mcdonagh, currently his deputy national security adviser and ron klain. but the latest cabinet nomination is, surprise, creating consternation...
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if confirmed he will have to jump into the debt ceiling debate. that will be trial by fire, isn't it? rich edson is live at the white house. >> this is the reason why he is selected. he has really been a budget person here in washington for the past 30 years. he was budget chief under the clinton white house and obama white house. he has been in all the particular budget fights especially next to president obama with the debt ceiling year-and-a-half ago in most recent recent round. according to folks early in the week telling us at fox we would get announcement by the end of this week that jack lew would likely be the next treasury secretary pick from president obama. we don't have much week left. on friday the president of afghanistan, hamid karzai is expected to be here at the white house. that has us all looking at tomorrow as the official date for this. the reasoning behind that, yes, he has been in on all of the budget fights. he spent all of last few years really of his career in washington, d.c. in the federal government. he spent a few yea
if confirmed he will have to jump into the debt ceiling debate. that will be trial by fire, isn't it? rich edson is live at the white house. >> this is the reason why he is selected. he has really been a budget person here in washington for the past 30 years. he was budget chief under the clinton white house and obama white house. he has been in all the particular budget fights especially next to president obama with the debt ceiling year-and-a-half ago in most recent recent round....
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ceiling. this is where jack lew's experience and knowledge can come in and i would expect, sue, and tyler, that he would be confirmed pretty easily. even though he has tough questioning at confirmation. >> let's bring in steve liesman. he is low drama, low confrontation. he doesn't have wall street regulatory. who is lew? >> i think the first theng i will do is begin the series of puns beginning with jack lew's name. let me say more about jack lew, we call this one, you don't know jack. >> of course you do. >> this is a financial education. beginning with harvard and georgetown. but that never disqualified anybody. tip o'neill 93 and '94, special to president clinton. and that's what john harwood was talking about. incredible expertise with the budget. moving on in 2006, new york university as executive advice president. then a stint at citigroup. first at global wealth management and next in a controversy by the way that comes up with a large bonus he got while citigroup was getting tart mone
ceiling. this is where jack lew's experience and knowledge can come in and i would expect, sue, and tyler, that he would be confirmed pretty easily. even though he has tough questioning at confirmation. >> let's bring in steve liesman. he is low drama, low confrontation. he doesn't have wall street regulatory. who is lew? >> i think the first theng i will do is begin the series of puns beginning with jack lew's name. let me say more about jack lew, we call this one, you don't know...
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if we have a problem with the debt ceiling. china is straight up. what is klaus's view on china? he thinks the new regime came in and said, you know what, we've been way too tight, way too worried about inflation. let's put on the jets, infrastructure spend. what i think they're developing in china, and i candidly get this from klaas, it's a sewer situation. i know that sounds strange. but literally they've got to do infrastructure underneath the cities. there's trillions of dollars to spend. i like the call for what he says about china. it is bullish. >> as a theme, a year where a lot of investors i've talked to, it's somewhat themeless. so they're looking for things that they can build a portfolio. >> china, autos, trucks. talking about 11% growth, back to double digit growth in china, i listened to byron. i wanted to slit my throat because he's aggressive about the s&p. now back to china. >> byron on china said the reformers are actually going to make some traction this year, and shares up 20%. >> that is all good news. so instead of being emergency trach yo tracheotomy with a
if we have a problem with the debt ceiling. china is straight up. what is klaus's view on china? he thinks the new regime came in and said, you know what, we've been way too tight, way too worried about inflation. let's put on the jets, infrastructure spend. what i think they're developing in china, and i candidly get this from klaas, it's a sewer situation. i know that sounds strange. but literally they've got to do infrastructure underneath the cities. there's trillions of dollars to spend. i...